{"id":56422,"date":"2022-01-24T10:04:03","date_gmt":"2022-01-24T08:04:03","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=56422"},"modified":"2025-09-04T06:21:05","modified_gmt":"2025-09-04T03:21:05","slug":"bitcoin-ends-its-worst-week-in-eight-months","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-ends-its-worst-week-in-eight-months\/","title":{"rendered":"Bitcoin ends its worst week in eight months"},"content":{"rendered":"<p>On Sunday, January 23, the price of Bitcoin stabilized after a week that was the asset&#8217;s worst in eight months. At the time of writing, the leading cryptocurrency trades above $35,300.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/kzacDnC_ofvdh6fkUaIPuXAvFCxK4dKADtdeoo716235mTuPzYCE3uD5EePXrw9uqvgGkRQ1c3K2qRAyEHaBIxaBv7pi8G2tZln6XFq4UNxJjQ4ZLBqsXnQjEc7k5SUgWBwfilju\" alt=\"Bitcoin ends its worst week in eight months\"\/><figcaption><meta charset=\"utf-8\">Hourly BTC\/USD chart on Bitstamp. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BTCUSD\/\"> TradingView<\/a>.<\/figcaption><\/figure>\n<p>Over the past seven days Bitcoin&#8217;s price has fallen 18.1%, over the month 30.6%, according to<a href=\"https:\/\/www.coingecko.com\/\"> CoinGecko<\/a>. The Fear and Greed Index has fallen to 13, indicating panicked sentiment among market participants.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/0A-iIWYsKwN1olYTb6JKgSSDN3jmth3asV1pprnUvLc171fwbqTmy2dFpfzSnh-1cNE34ml_KlnZyg6hCtGXOQNPCSijZkhvoQCur1Z8jNUFQQ7b9IHrIEI-7EOlIZAZASzIBg4O\" alt=\"Bitcoin ends its worst week in eight months\"\/><figcaption><meta charset=\"utf-8\">Data: alternative.me.<\/figcaption><\/figure>\n<p>On Friday, January 21, the leading cryptocurrency at the moment<a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-slips-below-39000-ethereum-below-3000\"> slipped below $37,700<\/a>, and on Saturday \u2014 to $34,000. All top-10 by market capitalization followed the leader.<\/p>\n<p>From the <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-hits-all-time-high-at-69000\">November high of $69,000<\/a>, the price has fallen by 50%. Net realized losses for investors last Friday exceeded $2.5 billion.<\/p>\n<p><script async=\"\" src=\"https:\/\/telegram.org\/js\/telegram-widget.js?15\" data-telegram-post=\"forklog\/23672\" data-width=\"100%\"><\/script><\/p>\n<p>Coinbase&#8217;s head of institutional research, David Duong, whose report CoinDesk cites, says that traders may be pricing in concerns about the possibility of a sharp tightening of the Federal Reserve&#8217;s monetary policy in the coming months.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;One of the bullish drivers for cryptocurrencies over the past two years has been the excess of pandemic-era fiscal and monetary stimulus worldwide, and much of it is set to wind down,&#8221; Duong said.<\/p>\n<\/blockquote>\n<p>Some community members mock the situation on social media. One Reddit user noted that the BTC chart formed a pattern resembling Pikachu&#8217;s ears.<\/p>\n<p><iframe loading=\"lazy\" id=\"reddit-embed\" src=\"https:\/\/www.redditmedia.com\/r\/cryptocurrencymemes\/comments\/s0jwfp\/pikachu_pattern\/?ref_source=embed&#038;ref=share&#038;embed=true\" sandbox=\"allow-scripts allow-same-origin allow-popups\" style=\"border: none;\" height=\"390\" width=\"640\" scrolling=\"no\"><\/iframe><\/p>\n<p>Against the backdrop of the correction in the leading cryptocurrency, the government of El Salvador <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-bitcoin-fund-buys-410-btc-amid-market-correction\">purchased 410 BTC for $15 million<\/a>. The average purchase price was $36,585. With the latest investment, the state fund&#8217;s balance holds 1,651 BTC.<\/p>\n<p>Later, the country&#8217;s president Nayib Bukele <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1485031106982428677\">changed<\/a> his Twitter avatar, overlaying a cap and a McDonald\u2019s badge on his photo. His idea was supported by MicroStrategy&#8217;s Michael Saylor.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">May apply for night shift at <a href=\"https:\/\/twitter.com\/TheRealTahinis?ref_src=twsrc%5Etfw\">@TheRealTahinis<\/a> to stack more sats. <a href=\"https:\/\/twitter.com\/hashtag\/NewProfilePic?src=hash&#038;ref_src=twsrc%5Etfw\">#NewProfilePic<\/a> <a href=\"https:\/\/t.co\/ZrirLojvrq\">pic.twitter.com\/ZrirLojvrq<\/a><\/p>\n<p>\u2014 Michael Saylor\u26a1\ufe0f (@saylor) <a href=\"https:\/\/twitter.com\/saylor\/status\/1485281031670403072?ref_src=twsrc%5Etfw\">January 23, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I would take a night shift at Tahinis to stack more satoshis,&#8221; wrote Saylor.<\/p>\n<\/blockquote>\n<p>As reported, on January 23, MicroStrategy<a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-shares-fall-18-amid-sec-allegations-and-bitcoin-slump\"> fell to a yearly low<\/a> amid a letter from the <span data-descr=\"Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> and a decline in Bitcoin&#8217;s price.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Sunday, January 23, the price of Bitcoin steadied after a week that was the asset&#8217;s worst in eight months. At the time of writing, the leading cryptocurrency trades above $35,300.<\/p>\n","protected":false},"author":1,"featured_media":56423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-56422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=56422"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56422\/revisions"}],"predecessor-version":[{"id":56424,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56422\/revisions\/56424"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/56423"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=56422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=56422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=56422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}